Market Analysis: Polyurethane-Based Synthetic Leather Market, Concrete Sealing Materials Market , Engineered Quartz Stone (EQS)Market for 2023-2030

SEATTLE, WASHINGTON, USA, July 4, 2023/EINPresswire.com/ -- The Polyurethane-Based Synthetic Leather Market is expected to grow from USD 68.60 Billion in 2022 to USD 93.30 Billion by 2030, at a CAGR of 4.50% during the forecast period.One of the major factors driving revenue growth in the Polyurethane-Based Synthetic Leather market is the increasing demand from the automotive industry. Polyurethane-based synthetic leather is lightweight, durable, and eco-friendly and easily replaceable with genuine leather in car interiors. The growing demand for electric vehicles with reduced carbon footprint has also driven the adoption of synthetic leather in the automotive sector. Moreover, the booming e-commerce industry has also played a significant role in the Polyurethane-Based Synthetic Leather market's growth by increasing online sales channels for the product.

There are different types of PU synthetic leather, including:

• Ordinary PU Synthetic Leather
• Microfiber Synthetic Leather

Ordinary PU synthetic leather is made by applying a coating of polyurethane over a fabric substrate, while microfiber synthetic leather is made by combining polyurethane with microfiber materials. Other types of polyurethane-based synthetic leather may include PVC-free, recycled, or bio-based options.

Polyurethane-based synthetic leather is widely used in various applications including footwear, apparel & accessories, furnishing, automotive, sports goods, bags, and others. In footwear and apparel & accessories, it is commonly used as a substitute for genuine leather due to its durability, flexibility, and cost-effectiveness. In furnishing and automotive, it is used for its easy maintenance and customizability. In sports goods and bags, it is valued for its water resistance and lightweight properties.

The Middle East and Africa region is projected to witness significant growth in the Polyurethane-Based Synthetic Leather market share, with an estimated market share percentage valuation of 10% by the end of the forecast period.Overall, the global Polyurethane-Based Synthetic Leather market is expected to witness substantial growth, with an estimated market share percentage valuation of around 60% by the end of 2027. The increasing demand for high-performance, cost-effective, and eco-friendly materials for various applications, such as automotive, footwear, furniture, and others, is driving the growth of the Polyurethane-Based Synthetic Leather market across the world.

Some of the key players in the market include Covestro (Bayer), Continental, Vowalon Coating Co., Ltd., Giardini, NOBILIS, Elmo Sweden AB, Münchner Autostoff Handel GmbH, Viniltex Srl, E.J. Kluth GmbH, Top Gear Leather, Akea, Novartiplast Italia Spa, Bautex–stoffe GmbH, Moda Chroma SA, Altfield, IMTEX Textil-Vertrieb GmbH, Ecolorica, Hackebeil GmbH, Scheidegger Polyart, StoffConcept, CGT, Gordon Fabrics, Adams Plastic, InStyle Coated Fabric Solutions, Flock Tex Incorporated, CHH AMERICA, INC., FIFIELD, Sommers Plastics, NOVATEX, Nassimi LLC, Simplifi Fabric, Swavelle Hospitality, Ultrafabrics, Kyowa, Kuraray, Teijin Limited, Toray Industries Inc., Daiichi Kasei Co., Ltd., Asahi Kasei, Achilles, Toyo Cloth Co., Ltd, Tokyo SINCO Leather Co.,Ltd, Filwel, San Fang Chemical Industry, Ocean Plastics Co., Sunta Chemical Corporation, Tiong Liong Industrial, Nan Ya Plastics, Pony Leather Corporation, and Hung Fu Leather Co., Ltd.

Some of the sales revenue figures of the listed companies are:

- Covestro (Bayer): 12.4 billion euros (2020)
- Kuraray: 1.6 billion yen (2020)
- Teijin Limited: 1.75 trillion yen (2020)
- Toray Industries Inc.: 2.4 trillion yen (2020)
- Asahi Kasei: 2.2 trillion yen (2020)

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The Concrete Sealing Materials Market is expected to grow from USD 288.80 Million in 2022 to USD 428.50 Million by 2030, at a CAGR of 5.80% during the forecast period.The Concrete Sealing Materials market has been experiencing steady growth over the past few years, driven by a variety of factors. One of the primary drivers of revenue growth in this market is the increasing demand for durable, long-lasting concrete surfaces for both commercial and residential applications. As a result, more and more property owners are turning to concrete sealing materials to protect their surfaces from wear and tear caused by moisture, UV rays, and other environmental factors.Another major factor contributing to the growth of the Concrete Sealing Materials market is the rise of environmental concerns and regulations.

The different types of concrete sealing materials includes:

• Silicate Materials
• Silane Siloxane Materials
• Acrylics Materials
• Epoxy Materials

Silicate materials penetrate the concrete surface and chemically bond with the calcium in the concrete to form a water-resistant barrier. Silane siloxane materials coat the surface of the concrete with a water-repelling film, preventing water from penetrating the surface. Acrylics materials are used to provide a protective coating to the concrete surface, and are available in various colors and finishes. Epoxy materials are used to create a stronger, more durable surface and are commonly used in high-traffic areas.

Concrete sealing materials find various applications such as in office buildings, hotels, malls, schools, hospitals, warehouses, garages, factories, bridges, and more. These materials are used to prevent water and other contaminants from penetrating into the concrete surface and causing damage. In the construction industry, concrete sealing materials are used to enhance the durability and longevity of concrete structures. The application process involves cleaning the surface, repairing any cracks or damage, and then applying the sealing material using a sprayer, roller, or brush.

Concrete sealing materials market is expected to grow significantly during the forecast period in regions such as North America, Europe, APAC, USA, and China. In North America, the growth is attributed to the increasing number of construction activities and government initiatives for infrastructure development. In Europe, the market growth is driven by the increasing demand for sustainable materials and rising awareness regarding the benefits of concrete sealing materials among the construction industry. In APAC, the growth is fueled by the increasing construction activities and growing awareness about the benefits of concrete sealing materials.

The global concrete sealing materials market is highly competitive and is dominated by key players such as Bostik, ARDEX, Estop, Curecrete Distribution, Prosoco, JOTUN, BASF, SealSource, AmeriPolish, Evonik, Solomon Colors, WR Meadows, Larsen, KreteTek Industries, Kimbol Sealer, Stone Technologies, LATICRETE International, Nutech Paint, NewLook, Euclid Chemical, Henry Company, Chem Tec, Mapei, Nanofront, and Suzhou Jinrun.

BASF, for instance, is one of the leading players in the global concrete sealing materials market, offering products such as MasterProtect and MasterSeal. The company’s concrete sealing materials are used for waterproofing, durability enhancement, and corrosion protection, among other purposes. In 2020, the company reported sales revenue of USD 59 billion.Similarly, JOTUN, a Norwegian multinational company, offers a range of concrete sealing materials, including Jotafloor, Jotadeck, and Jotaguard. The company’s products are used in industrial and commercial applications to protect concrete structures from damage through chemicals, abrasion, and impact. In 2020, the company reported sales revenue of USD 2.6 billion.

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The Engineered Quartz Stone (EQS) Market is expected to grow from USD 10.10 Billion in 2022 to USD 20.10 Billion by 2030, at a CAGR of 10.40% during the forecast period.The Engineered Quartz Stone (EQS) market has experienced significant growth in recent years, and this trend is expected to continue for the foreseeable future. EQS is widely used in countertops, flooring, and other applications due to its durability, low maintenance, and aesthetic appeal. The target market for EQS includes both residential and commercial construction sectors, with a particular focus on kitchen and bathroom applications.The major factors driving revenue growth in the EQS market include increasing demand for sustainable and eco-friendly building materials, rising disposable incomes, and the growing popularity of home renovation and remodeling projects.

There are three main types of EQS:

• Quartz Surface
• Quartz Tile
• Others.

Quartz Surface is the most popular type of EQS and is used in kitchen countertops, bathroom vanities, and flooring. Quartz Tile is a combination of natural and synthetic materials, designed to mimic the look of natural stone. Other types of EQS include wall panels, backsplashes, and tabletops.

Engineered Quartz Stone (EQS) is a popular material used in both residential and commercial settings. In the residential sector, EQS is used for kitchen and bathroom countertops, flooring, and wall cladding. Its resistance to stains and scratches, durability, and low maintenance requirements make it a popular choice among homeowners. In the commercial sector, EQS is used for public spaces, hotels, restaurants, and healthcare facilities. EQS is often used in high traffic areas due to its resistance to bacteria, stains, and scratches.

In terms of market share percentage valuation, the Asia Pacific region is projected to lead the global Engineered Quartz Stone (EQS) market during the forecast period. This region is estimated to achieve a market share of approximately 43.2% by 2023, owing to the increasing number of construction activities and rising demand for durable and attractive building materials. North America and Europe are expected to follow the Asia Pacific region, driven by the growing popularity of engineered quartz stones as a replacement for natural stone and the increasing adoption of energy-efficient building materials. The market share of the Engineered Quartz Stone (EQS) market in North America and Europe is expected to be around 27.1% and 22.5%, respectively, by 2023.

The Engineered Quartz Stone (EQS) Market is highly competitive and fragmented, with several well-established players vying for market share. Companies such as COSENTINO, Caesarstone, Hanwha L&C, Compac, Vicostone, Wilsonart, DuPont, LG Hausys, Cambria, Santa Margherita, Quartz Master, SEIEFFE, Quarella, Lotte Chemical, Technistone, Zhongxun, Sinostone, Bitto(Dongguan), OVERLAND, UVIISTONE, Polystone, Ordan, Meyate, Gelandi, Blue Sea Quartz, Baoliya, Qianyun, Falat Sang Asia Co., Belenco Quartz Surfaces, Prestige Group, QuartzForm, CRL Stone, Stone Italiana, Equs, Diresco, QuantumQuartz, Pental, and Sage Surfaces (Allen+Roth) are some of the leading players in this market.

In terms of sales revenue figures, Caesarstone reported a revenue of $606.9 million in 2020. Similarly, Cambria's revenue was $321.4 million in 2020, while LG Hausys reported revenue of $1.4 billion in 2019. These figures highlight the robust growth potential of the EQS market and reflect the strong performance of these companies in this space.

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